Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX: GLO, OTCQX: GLATF, FRANKFURT: G12) is pleased to announce the closing of its previously announced non-brokered private placement (the “Offering”) for gross proceeds of C$20,000,000.25. The Company sold 14,814,815 units of the Company (each, a “Unit”) at a price of C$1.35 per Unit. Red Cloud Securities Inc. (“Red Cloud”) acted as a finder in connection with the Offering.
Each Unit consists of one common share of the Company (each, a “Common Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of C$1.80 at any time on or before July 31, 2026. The Warrants are subject to an acceleration clause whereby if (i) the 10-day volume weighted average price of the Common Shares is above C$2.50 and, (ii) within a period of 5 trading days following the date the Company provides a notice via widely disseminated press release, the expiry date of the Warrants shall be accelerated to the date that is 30 days from the date of the aforementioned press release.
The Company intends to use the net proceeds from the Offering for the advancement of the Company’s Dasa Project and for general working capital purposes. The Offering remains subject to the final approval of the Toronto Stock Exchange (the “TSX”).
As consideration for its services in connection with the Offering, the Company paid Red Cloud a cash finders fee and issued warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitling the holder thereof to purchase one Common Share at a price of C$1.35 at any time on or before July 31, 2026. The Finder’s Warrants are subject to the same accelerated expiry clause as the Warrants.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Global Atomic
Global Atomic Corporation (www.globalatomiccorp.com) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.
The Company’s Uranium Division is currently developing the fully permitted, large, high grade Dasa Deposit, discovered in 2010 by Global Atomic geologists through grassroots field exploration. The “First Blast Ceremony” occurred on November 5, 2022, and commissioning of the processing plant is scheduled for Q1, 2026. Global Atomic has also identified 3 additional uranium deposits in Niger that will be advanced with further assessment work.
Global Atomic’s Base Metals Division holds a 49% interest in the Befesa Silvermet Turkey, S.L. (BST) Joint Venture, which operates a modern zinc recycling plant, located in Iskenderun, Türkiye. The plant recovers zinc from Electric Arc Furnace Dust (EAFD) to produce a high-grade zinc oxide concentrate which is sold to zinc smelters around the world. The Company’s joint venture partner, Befesa Zinc S.A.U. (Befesa) holds a 51% interest in and is the operator of the BST Joint Venture. Befesa is a market leader in EAFD recycling, with approximately 50% of the European EAFD market and facilities located throughout Europe, Asia and the United States of America.
Key contacts:
Stephen G. Roman
Chairman, President and CEO
Tel: +1 (416) 368-3949
Email: sgr@globalatomiccorp.com
Bob Tait
VP Investor Relations
Tel: +1 (416) 558-3858
Email: bt@globalatomiccorp.com
